Market View

Inflation in Canada slowed faster than forecast with a 2.9% reading in January, compared to an expectation of 3.3%, the deceleration was driven mainly by lower year-over-year prices for gasoline and food. On the other hand, oil prices are under pressure as Fed officials continue to push back on the timing of rate cuts. The Canadian dollar was 74.07 cents USD. The U.S. S&P500 ended the week up 1.3%, while the TSX was up 0.7%.

A lot more greens this week than reds. Energy added 3.0%, while consumer staples and financials added 2.9% and 1.3%, respectively. Consumer discretionary and materials remained flat for the week. Information technology edged down 3.0% while real estate ended the week slightly down 0.4%. The most heavily traded shares by volume were Suncor Energy, Magna International, and Baytex Energy.

5 from 5i

Here are five reads we found interesting last week:

•  What’s Driving the Stock Market Returns?, published by Ben Carlson of Ritholtz Wealth Management LLC

• How to Use Alternatives in Your Portfolio, by Amy C. Arnott of Morningstar

• The Most Crowded Trade on Earth, authored by Josh Brown of Downtown Josh Brown

• Perceptions of inflation vs. wage growth: why the divergence?, authored by The Bonddad Blog

• When Should You Hire a Financial Advisor?, written and published by Ben Carlson of Ritholtz Wealth Management LLC

Happy Reading & Stay Safe!

Disclosure: The analyst(s) responsible for this report do not have a financial or other interest in securities mentioned.